CRISIL has reaffirmed its ‘A+/Stable’ rating for long-term bank loan facilities and ‘A1’ rating for short-term facilities of ISGEC Titan Metal Fabricators Private Limited, a subsidiary and joint venture company of ISGEC Heavy Engineering. The ratings pertain to total bank loan facilities of ₹105 crore, as communicated on February 4, 2026. This decision follows a review of the existing credit ratings.
CRISIL Rating Review Outcome
ISGEC Heavy Engineering announced that CRISIL has reviewed and reaffirmed the credit ratings for its subsidiary and joint venture company, ISGEC Titan Metal Fabricators Private Limited. The announcement, dated February 4, 2026, confirms the creditworthiness for total bank loan facilities amounting to ₹105 crore.
Details of Reaffirmed Ratings
The long-term rating for bank loan facilities remains at ‘A+/Stable’. The short-term rating has been reaffirmed as ‘A1’. These ratings apply to various bank facilities, including Cash Credit & Working Capital Demand Loan, Letter of Credit & Bank Guarantee and Proposed Non-Fund based Limits. The ratings are distributed across multiple banks.
Breakdown of Bank Facilities and Ratings
The ₹105 crore total bank loan facilities are spread across the following:
- Kotak Mahindra Bank: ₹10 crore (A+/Stable)
- IDFC First Bank Limited: ₹20 crore (A1)
- Kotak Mahindra Bank Limited: ₹25 crore (A1)
- HDFC Bank Limited: ₹35 crore (A1)
- Proposed Non Fund based Limits: ₹15 crore (A1)
These ratings were initially assigned on January 8, 2025, and have been reaffirmed as of February 4, 2026.
Source: BSE
